New Delhi: Gold prices continue to witness downward trend as compared to its all time highs. On Thursday, gold prices for October delivery on MCX opened at Rs 46,938 per 10 gram from the previous close of Rs 47,038. Gold futures that have been largely trading in the range of above Rs 47,000 this week is today trading below the range.
Gold range August 30-September 3 (MCX October Futures)
Monday: Rs 47164/10 grams
Tuesday: Rs 47120/10 grams
Wednesday: Rs 47068/10 grams
Thursday: Rs 46991/10 grams
Friday: Rs 47524/10 grams
Gold still cheaper by nearly Rs 9,300 from record highs
Last year, due to the Corona crisis, people had invested heavily in gold. In August 2020, the price of 10 grams of gold on MCX reached the highest level of Rs 56191. Last year, gold gave a return of 43%. If compared to the highest level, gold has declined by 25 percent. At late morning trade, gold was at the level of Rs 46,860 per 10 grams on MCX, which is still cheaper by Rs 9,200.
Gold in the national capital on Wednesday tumbled Rs 264 to Rs 46,140 per 10 gram amid muted global trends. In the previous trade, the precious metal had closed at Rs 46,404 per 10 grams. Silver rose marginally by Rs 22 to Rs 63,486 per kilogram from Rs 63,464 per kilogram in the previous trade.